Zenobē, a London, UK-based company which specializes in transport electrification and battery storage solutions, received a $750M investment led by KRR.
Infracapital, the infrastructure equity investment arm of M&G Plc and current majority shareholder, will invest further alongside KKR and the management team, with KKR and Infracapital becoming joint majority shareholders. The transaction is subject to customary closing conditions and regulatory approvals.
The company intends to use the funds to consolidate its position in the UK, Australia and New Zealand, continue to grow across continental Europe, and expand into North America.
Founded in 2017 by Nicholas Beatty, Zenobē provides electrification solutions for fleets and battery storage solutions for grid network infrastructure. Its EV fleet business provides end-to-end solutions to transition conventional internal combustion engine vehicles to electric, including financing of chassis, batteries on the vehicles, and charging infrastructure in depots, complemented with an integrated software solution. Through its network infrastructure business, Zenobē develops and builds large scale batteries that connect to transmission grids, offering essential grid services to complement the growth of intermittent low carbon energy generation and allowing economies to achieve their net zero ambitions, without compromising the grid stability.
FinSMEs
07/09/2023